Small businesses within the life science industry face a variety of exposures and require a tailored insurance product designed to cater for their full lifecycle from research & development through to clinical trials and into product sales and professional services. Beazley offers a flexible, innovative and client-focused approach to underwriting this class of risk for the small medium enterprise (SME) sector.

Appetite

A wide range of SMEs can benefit from Beazley’s specialist cover for life sciences, including for:

• Products
  • Medical devices (non-invasive)
  • Drug delivery systems
  • Certain dental instruments and equipment
  • Diagnostic kits (except those catering to public health concerns)
  • General anaesthesia equipment
  • Hospital equipment
  • Pre-packaged sterile products
  • Surgical equipment
  • Rehabilitation equipment
  • Hospital - surgical equipment
• Phase I and II clinical trials 
• Services
  • Medical device distributors
  • Research and development companies
  • Site Management Organisations (SMOs)

Coverage

• Products liability
• Professional indemnity
• Public liability
• Medical malpractice
• Clinical trials – no-fault compensation & legal liability
• Claims made coverage.

Territory

Coverage for UK domiciled companies

Target market

A wide range of SMEs with an annual turnover of up to £10m can benefit from Beazley's Life Sciences for Small Business. For those organisations with an annual turnover of more than £10m, we would be pleased to discuss our Life Sciences product designed specifically for larger businesses. 

Capacity

Up to £5m any one claim

Up to £5m in the aggregate

Policies are written on our comprehensive life sciences insurance form and are available through either our Lloyd’s syndicate or “A-rated” European Insurance company, Beazley Insurance dac (designated activity company).